3 Questions to Ask a 401k Provider

Before working with a 401k provider, there are a few things that you will want to ask. Here are a few questions to consider asking your 401k provider.

1. Do You Allow Loans?

Many 401k providers will allow you to take loans on the money that you have in your account. This can be a great way to access money in an emergency situation without having to pay costly penalties. You might also want to learn about the particular terms that are available to you with this type of loan.

2. What Investments Do You Offer?

Before getting involved with a particular 401k provider, you will want to make sure that you understand what investments they have to offer. Many providers do not have a very large selection of available investments. Many of them have only a few mutual funds for you to choose from. You should also ask for some information about each investment that they have available to you.

3. What Are Your Fees?

You should also ask your provider what their fee structure is. Every provider charges a different amount of money for fees. Some of them have a very nominal charge for their services, while others charge substantially more.

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